holdover tenant moveout inspection - Landlord Forum thread 331561

holdover tenant moveout inspection by Anonymous (pa) on March 1, 2015 @12:59

tenant of over 2 years gave 30-day notice. I need to return security deposit within 30 days of moveout in PA. problem is, I bought the building from original landlord so I don't know what to deduct from deposit. Am I just going to be screwed and have to return everything because the tenant will probably just say that everything was like that when they moved in. Also PA requires me to pay interest on security deposits after 2 years, so is that even my responsibility since I technically haven't been the landlord for the full 2 years?

[ Reply ] [ Return to forum ]

Re: holdover tenant moveout inspection by Wilford on March 1, 2015 @13:24	[ Reply ]

You can charge for cleaning and repairs for damage. It does not matter that the tenant existed before your ownership or what the tenant says was pre-existing. If you can, communicate with the previous owner if you have questions. Pay the tenant one percent on the deposit for the years beyond two. This is a generous amount considering market rates now. It is your responsibility to pay. After all, how much can one percent be anyway?

Re: holdover tenant moveout inspection by Katiekate (New York) on March 1, 2015 @13:52	[ Reply ]

During the process of going through the closing, you should have gotten from the seller all of the following: the deposit held for the tenant, and the interest on that deposit up to the date of closing. the signed moved in inspection papers. Yes, I had a tenant I inherited. I gave the tenant notice to move. That tenant did claim that the damage was pre-existing. Only the fact that I had the move-in inspection form signed by the tenant prevented them from getting away with it.

Re: holdover tenant moveout inspection by Garry (Iowa) on March 1, 2015 @14:24	[ Reply ]

Don't worry about how they MIGHT leave it. Simply send them a letter this week telling them how you expect them to leave it. Carpets cleaned by the Rug DR. or a professional cleaner, wood floors dust mopped, tile floors damp mopped. All appliances, cupboards, walls bathrooms kitchens, etc washed out. Walls cleaned and nail holes filled, ALL trash and their personal belongings OFF the premices., any damages repaired, and keys back to you. Make it a nice, friendly letter, and thank them for being your tenants. By sending the letter, you have at least set in their minds a reasonable expectation of how they should leave it, to be able to get their deposit back. And, yes, even if you pay them 1% on a $1,000 deposit per year, that's only $10 each year. And you can make that back in charging just an hour of cleaning against their deposit.

Re: holdover tenant moveout inspection by Anonymous on March 2, 2015 @10:47	[ Reply ]

You should have thought of all this when you bought the building. That was the time to get the tenant file and all paperwork, including the move-in condition report, and the security deposit and accrued interest to the date of purchase. If you didn't deal with these at the time of closing, that's your oversight. You still have to adhere to the law with respect to the tenant's rights at move-out. If you don't have a move-in condition report, you can't show any damage occurred during tenancy, so only clenaing will be deductible from the deposit. And yes, you have to pay the interest due -- you are standing in the shoes of the original landlord since you bought the building.